In line with research carried out by Age UK, two million older households won’t have enough income to cover their essential spending this yr, including their energy bills. The charity estimates that just about half of those households live in poverty, just above the poverty line or on advantages. One man, in his 80s, told Age UK: “I could have to cancel my carer – I prefer to be warm and dirty than clean and cold.”
As a part of its research, the charity believes pensioners could have to extend the share of their net income spent on essential goods and services to survive.
This may likely be an increase from 67 percent in 2021-22 to 79 percent in 2022-23 in light of rising inflation and energy bills.
The talk about paying for energy bills or carers will affect many pensioners in the approaching months.
For a lot of older people, the typical cost of hourly home care is £20 to £30, in accordance with homecare.co.uk.
READ MORE: Woman, 88, in tears after losing £36,000 savings – after ‘scrimping’ for 50 years
As compared, live-in care fees reportedly start at around £900 to £1,400 per week but may be as much as £2,000 per week.
In response, Age UK is looking on the Government to lift the speed of profit payments in keeping with inflation, which is currently seven percent.
In addition to this, the charity is proposing a £500 one-off payment is introduced to mitigate the damage of the price of living crisis.
Outside of the pensioner considering now not having a carer, many other case studies spoke to Age UK about their concerns with the price of living crisis.
Also sharing their story with the charity, a pair of their mid-70s explained:: “When it’s cold, we go to bed much earlier to maintain warm.
“We used to wash each day but this may now be cut to twice per week. I believe this says all of it, we simply cannot afford to pay these rip-off prices anymore. What is the point of life?”
Discussing the charity’s latest research, Caroline Abrahams from Age UK said: “Our latest evaluation shows the brutal impact that rocketing prices are having on our older population and lays bare the desperate situation facing almost one million pensioners next yr, if the Government fails to act.
“I’m astonished that the bad news about prices keeps rolling in however the Government continues to sit down on its hands, and from what we hear many older individuals are surprised and disenchanted too. There should be more that Ministers can do to assist.
“Significant numbers of older individuals are already struggling, and the Bank of England was crystal clear last week that it’s only going to worsen within the months to return.
“For older people on low fixed incomes, relying solely on their state pension and advantages, it’s a terrifying prospect because there are simply no more cuts they will make.
“They need concrete support now and without determined Government intervention they’re prone to deep hardship like nothing we’ve seen on this country for a few years.”
As a part of its ‘It Doesn’t add up’ campaign, Age UK is looking on pensioners to fill out a survey on its website regarding the price of living crisis, which will probably be used to pressure the Government to take motion.